Polymer Capital Management HK LTD Takes Position in ResMed Inc. $RMD

Polymer Capital Management HK LTD purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,990 shares of the medical equipment provider’s stock, valued at approximately $972,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of ResMed in the 4th quarter worth about $25,000. Bell Investment Advisors Inc bought a new position in ResMed during the second quarter valued at approximately $26,000. Imprint Wealth LLC bought a new stake in shares of ResMed during the 3rd quarter valued at about $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed in the 2nd quarter worth $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed in the 3rd quarter worth approximately $31,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RMD shares. UBS Group restated a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research report on Tuesday, July 21st. Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Citigroup reiterated a “neutral” rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Finally, Royal Bank Of Canada upped their price objective on ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Hold” and a consensus price target of $239.38.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the sale, the director owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is owned by company insiders.

ResMed Stock Performance

Shares of RMD stock opened at $231.62 on Monday. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The company has a market cap of $33.41 billion, a PE ratio of 22.21, a PEG ratio of 1.45 and a beta of 0.76. The business’s fifty day simple moving average is $207.22 and its 200-day simple moving average is $219.82. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.55 EPS. Analysts expect that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio is presently 25.31%.

ResMed Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.